CareerPoint to acquire cos in education sector

Tutorial services provider Career Point Info Systems has said it plans to acquire companies in the test preparation and education business to mark its foray in the related segment where it is not present.

"We are looking at acquiring companies in the education and test preparation sector which in turn will help us foray the related segment where we are not present," Career Point Managing Director and Chief Executive Officer Pramod Maheshwari told PTI.

However, the company did not reveal the amount to be invested on the proposed acquisitions.

Further spreading its wings in the education sector, the Kota-based company has currently six projects in hand. The company is setting up two private universities, one in Rajasthan and another in Himachal Pradesh.

Besides, the company is opening two engineering colleges, one near Udaipur in Rajasthan and the other in Mohali, Punjab.

Career Point is also coming up with a school in Jodhpur, Rajasthan and has applied for opening a university in Bhopal, Madhya Pradesh.

Taking its expansion spree forward, the company yesterday entered into a two-year agreement with the Gopi Bai Foundation Trust for providing various educational consultancy and management (ECAM) services to its proposed university in Hamirpur, Himachal Pradesh.

Last month, the company had inked a Memorandum of Understanding (MoU) with Government of Gujarat to invest Rs 300 crore in the formal education space.

As per the MoU, the company would set up educational institutions in higher education, vocational training and skill development segment.

The investment by CPIL will be made keeping in mind the specific needs of Gujarat in the perspective of growing industrialisation and economic growth, Maheshwari said.